- A Discussion: The Relationship Between Unemployment and Homeownership
- AppraisalPort Weekly Poll Analysis: Property Data
- Appraisal Institute Northern CA Chapter Annual Spring Conference
- VIDEO: FNC’s Bill Rayburn and Bob Dorsey discuss how a Cyprus bailout would affect the United States
- AppraisalPort Poll Analysis – Source of Work
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Author Archives: Yanling Mayer
FNC’s latest Residential Price Index™ (RPI) indicates that U.S. property values continue to rise. Home prices reached a 20-month high following a robust spring/summer homebuying season. In August, home prices rose for the sixth consecutive month, consistent with signs of strengthening market conditions that are led by rising existing-home sales and declining foreclosure activities. Foreclosure sales, down from 23% a year ago to 17.4% in August, continue to play out… Continue reading
Last month, the Appraisal Institute released “Guide Note 12: Analyzing Market Trends,” a resource designed to give AI members an analytical framework for studying market trends while developing a market value opinion on a property. The Guide Note is particularly concerned with challenges faced by appraisers when market conditions are rapidly changing, as demonstrated by recent boom and bust cycles of the U.S. housing market. In slower markets like today’s… Continue reading
Spring Housing Scoreboard: While homesellers in Chicago are taking steep price cuts, Bay Area homes are selling quickly at near asking price.
With the arrival of the spring/early summer homebuying season, homes prices nationwide have showed signs of strengthening. The FNC Residential Price Index® (FNC RPI™) – the industry’s first hedonic price index built on a comprehensive database that blends public records with real-time appraisals of property characteristics… Continue reading
Despite the continued weakness in the U.S. housing market as indicated by March numbers from indicators such as NAR’s existing homes sales, Census’s new housing starts and new home sales, signs of a housing pick-up in the Chicago metro area are emerging earlier this year.
Rising Inventory and Owners’ Asking Prices: First, as early as February, Chicago’s single-family home listings were up 8.0% from the previous month, accompanied by… Continue reading
Home sales are up again, according to March numbers released by the National Association of Realtors, marking the ninth consecutive year-to-year growth. On a month-to-month basis, however, both March and February show declining sales volumes from the previous months, meaning the spring home buying season has yet to begin. The latest numbers on new housing starts from the Census Bureau show similar trends.
Nevertheless, a seasonal pick-up in… Continue reading
According to the FNC Residential Price Index™ (RPI), U.S. home prices continued to weaken in November despite signs of job recovery and rising home sales and new residential construction. The price weakening is a continued reflection of weak housing demand and drag from foreclosures and distressed sales.
A recent white paper prepared by the Federal Reserve Board for congressional policy consideration reveals that as many as a million… Continue reading
Almost without exception, individual markets tracked by the FNC 30-MSA composite index declined in October.
FNC’s latest Residential Price Index™ (RPI), released Wednesday, indicates that October U.S. home prices continued to weaken at a modest pace despite recent positive home-sales data. The trend is a reminder that the housing market remains constrained… Continue reading
The collapse of the U.S. housing market in 2006 has unleashed an unprecedented wave of residential mortgage defaults and foreclosures. It is no coincidence that the mortgage crisis is more concentrated in areas where home prices have experienced steep declines, and in subprime neighborhoods where borrowers tend to have minimum equity in their highly leveraged homes. Despite that the subprime mortgage crisis is now stretching into its sixth year, sales… Continue reading
Of the many likely sources contributing to ongoing housing market weakness (e.g., the overhang of distressed and vacant homes; tight credit; poor job prospects; negative income shocks to many would-be first-time homebuyers; disappearing equity on the part of potential trade-up buyers), appraisal valuation –- a key underwriting requirement for screening the risk of mortgage loans in the event of borrower default –- has come under criticism for its alleged role… Continue reading
Last week, ahead of the S&P/Case-Shiller Home Price Index, a number of price indices reported the latest July home price trends. While all indices are pointing to a fairly decent seasonal upswing in the housing market, beneath this consensus lies significantly overlooked differences.
One of these difference concerns what type of sales transactions need to be measured in order to capture a relatively accurate picture of what’s happening to… Continue reading